Three adjoining shophouses in Chinatown for sale by tender for $61.6 mil
The real property settles at the limit of the Downtown Core and in the Telok Ayer Conservation Shophouse territory. It has been carefully preserved to maintain its initial surface building features, the media release mentions.
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The three-storey shophouses occupy a complete land area of approximately 4,030 sq ft with a built-up area of 10,735 sq ft. They have been zoned for business usage under URA’s Master Plan 2019 and are to be sold jointly.
The tender concludes on March 28 at 3pm.
The three shophouses are fully attached all around their 3rd floor, which has been approved for workplace usage. The 2nd storeys are partly linked and are already used as an exercise and health studio. The ground floor is completely tenanted by a mix of F&B shops offering different disheses, consisting of Australian and Middle Eastern.
Three linked conserved shophouses at 4, 5 and 6 Stanley Street in Chinatown, prime District 1, have already been put up for sale by tender for $61.6 million, the commercial properties’ special promotion agent Knight Frank Singapore publicized in an announcement on Jan 3.
“This unusual real estate provides a chance for buyers to own and operate a portion of minimal conservation land in Singapore. The shophouses are in a historic area, yet moves away from the dynamic metropolitan area of the CBD. Its old-world beauty attracts travelers, whilst the nearby range of eateries draw the business people and food enthusiasts all throughout the day,” she adds.
Knight Frank Singapore’s managing supervisor of funding markets, Mary Sai, expects the building to draw in financiers whose goals are wealth maintenance, steady reoccuring income and considerable capital appraisal with time.
Stanley Road is positioned at the cross-section of the CBD, and nearby popular tourist attractions such as the Chinatown/Outram district, Tanjong Pagar commercial location and Marina Bay. It is within walking range from Telok Ayer, Tanjong Pagar, Shenton Way and Maxwell MRT Stations.
